Prescott Group Capital Management L.L.C. continued to hold its stake in Tutor Perini Corporation (NYSE:TPC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,300 shares of the construction company’s stock at the end of the second quarter. Prescott Group Capital Management L.L.C.’s holdings in Tutor Perini Corporation were worth $296,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Hillcrest Asset Management LLC increased its position in shares of Tutor Perini Corporation by 7.9% in the first quarter. Hillcrest Asset Management LLC now owns 391,632 shares of the construction company’s stock valued at $12,454,000 after buying an additional 28,800 shares during the period. Hennessy Advisors Inc. acquired a new position in shares of Tutor Perini Corporation during the first quarter valued at $4,172,000. KAMES CAPITAL plc acquired a new position in shares of Tutor Perini Corporation during the first quarter valued at $737,000. Russell Investments Group Ltd. increased its position in shares of Tutor Perini Corporation by 34.2% in the first quarter. Russell Investments Group Ltd. now owns 406,612 shares of the construction company’s stock valued at $12,928,000 after buying an additional 103,645 shares during the period. Finally, State of New Jersey Common Pension Fund D acquired a new position in shares of Tutor Perini Corporation during the first quarter valued at $1,908,000. 81.17% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Tutor Perini Corporation (NYSE:TPC) opened at 25.95 on Friday. Tutor Perini Corporation has a one year low of $18.05 and a one year high of $33.00. The company has a 50-day moving average price of $27.88 and a 200 day moving average price of $28.91. The firm has a market capitalization of $1.29 billion, a P/E ratio of 12.76 and a beta of 2.42.
Tutor Perini Corporation (NYSE:TPC) last issued its earnings results on Monday, August 7th. The construction company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. The company had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.42 billion. Tutor Perini Corporation had a net margin of 2.08% and a return on equity of 6.60%. The company’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter last year, the business posted $0.43 EPS. Analysts expect that Tutor Perini Corporation will post $2.26 earnings per share for the current fiscal year.
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TPC has been the subject of several analyst reports. Canaccord Genuity reiterated a “buy” rating on shares of Tutor Perini Corporation in a report on Friday, June 23rd. Zacks Investment Research upgraded Tutor Perini Corporation from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a report on Wednesday, July 5th. Finally, BidaskClub upgraded Tutor Perini Corporation from a “sell” rating to a “hold” rating in a report on Thursday, July 6th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $31.29.
About Tutor Perini Corporation
Tutor Perini Corporation is a construction company offering general contracting, construction management and design-build services to private customers and public agencies across the world. The Company operates through three segments: Civil, Building and Specialty Contractors. Its Civil segment specializes in public works construction and the repair, replacement and reconstruction of infrastructure across various geographic regions of the United States.
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